Concord Asset Management LLC VA Sells 7,094 Shares of Aflac Incorporated (NYSE:AFL)

Concord Asset Management LLC VA lowered its holdings in Aflac Incorporated (NYSE:AFL) by 63.8% in the third quarter, Holdings Channel reports. The firm owned 4,017 shares of the financial services provider’s stock after selling 7,094 shares during the quarter. Concord Asset Management LLC VA’s holdings in Aflac were worth $449,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Peterson Financial Group Inc. bought a new position in Aflac in the third quarter valued at $52,000. Adero Partners LLC grew its position in shares of Aflac by 2.9% in the 3rd quarter. Adero Partners LLC now owns 5,887 shares of the financial services provider’s stock valued at $658,000 after acquiring an additional 167 shares during the period. Turtle Creek Wealth Advisors LLC grew its position in shares of Aflac by 1.4% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 57,763 shares of the financial services provider’s stock valued at $6,458,000 after acquiring an additional 789 shares during the period. Natixis Advisors LLC grew its position in shares of Aflac by 7.3% in the 3rd quarter. Natixis Advisors LLC now owns 300,630 shares of the financial services provider’s stock valued at $33,610,000 after acquiring an additional 20,402 shares during the period. Finally, TSA Wealth Managment LLC bought a new position in shares of Aflac in the 3rd quarter valued at about $227,000. Institutional investors own 67.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on AFL shares. Piper Sandler lifted their price objective on shares of Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Aflac from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Evercore ISI lifted their price objective on shares of Aflac from $84.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, September 26th. UBS Group lifted their price objective on shares of Aflac from $84.00 to $109.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company lifted their target price on shares of Aflac from $106.00 to $107.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $97.93.

Aflac Price Performance

Shares of NYSE AFL opened at $111.32 on Friday. The business has a fifty day moving average price of $110.41 and a two-hundred day moving average price of $99.59. The stock has a market capitalization of $61.84 billion, a PE ratio of 16.77, a P/E/G ratio of 2.13 and a beta of 0.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.08 and a quick ratio of 0.08. Aflac Incorporated has a fifty-two week low of $75.07 and a fifty-two week high of $115.50.

Aflac (NYSE:AFL) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.47. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $4.30 billion. Aflac had a return on equity of 16.34% and a net margin of 22.02%. Aflac’s revenue for the quarter was down 40.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 earnings per share. As a group, equities analysts predict that Aflac Incorporated will post 7.22 earnings per share for the current fiscal year.

Aflac Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Wednesday, November 20th. Aflac’s dividend payout ratio (DPR) is presently 30.12%.

Aflac Profile

Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. The company operates through Aflac Japan and Aflac U.S. segments. The Aflac Japan segment offers cancer, medical, nursing care, work leave, GIFT, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products in Japan.